Centurion to Acquire 100-per cent Stake in Gallery Connection Centurion Corporation Limited, through its wholly-owned subsidiary Centurion Dormitories Sdn Bhd (CDSB), has entered into share sale agreements with Chan Kim Fook and Yang Tse Pin (collectively, the “sellers”) to acquire the entire 100-per cent stake in the share capital of Gallery Connection Sdn Bhd. Gallery...

COSCO Secures US$75-million Drilling Rig Contract COSCO Corporation (Singapore) Limited Thursday announced that COSCO (Nantong) Shipyard Co Ltd, a subsidiary of the company’s 51-per cent owned subsidiary, COSCO Shipyard Group Co Ltd, has secured a contract with SEADRILL to construct a self erecting tender drilling rig T18 valued at US$75 million, excluding owner furnished drilling...

DBS to Inject RMB2.3 billion into China Subsidiary DBS Bank Wednesday announced that to facilitate the expansion of its fast-growing China franchise, it plans to inject RMB2.3 billion (about S$458 million) into DBS China, thereby increasing its registered capital by close to 60 per cent. The capital injection is subject to the requisite regulatory approvals...

China XLX Unit Gets Tax Cut for Winning Award China XLX Fertiliser Ltd Tuesday announced that its wholly-owned subsidiary, Henan Xinlianxin Fertiliser Co, Ltd (Henan XLX), was recently awarded the New / High Tech Enterprise Award by China’s government in recognition of its innovation and use of state-of-the-art equipment. China XLX said that with the granting...

GLP Leases 52,000 square metres of Space in Greater Tokyo Global Logistic Properties Limited (GLP), a leader in modern logistics facilities in China and Japan, Monday announced that it has leased 52,000 square metres of space in Greater Tokyo. The new leases bring the occupancy rate for GLP’s Japan portfolio to 98.8 per cent. With...

Roxy-Pacific Proposes Bonus Issue of Up to 318,280,000 New Ordinary Shares Roxy-Pacific Holdings Limited Thursday announced that it is proposing to undertake the bonus issue of up to 318,280,000 new ordinary shares in the capital of the company. It said the issue will be on the basis of one bonus share for every two existing...

See Hup Seng to Enter JV for Condo Project See Hup Seng Limited Wednesday announced that it plans to enter into a joint venture with Ho Lee Group Pte Ltd, Evia Real Estate Management Pte Ltd and CNH Investment Pte Ltd to benefit from the healthy demand for Executive Condominiums (ECs) in Singapore. Under the...

China Fashion’s CEO Resigns China Fashion Holdings Limited Tuesday announced a change to its board composition. It said Chen Xijian has tendered his resignation as an Executive Director and Chief Executive Officer of the company with effect from 3 April 2012 “to pursue his personal interest.” China Fashion added that his resignation was in line...

Navis Capital Launches S$110.7-million Cash Offer for Adampak Private equity firm Navis Capital Partners Monday announced that it has made a voluntary conditional cash offer to take over SGX mainboard-listed Adampak Limited, a manufacturer of high performance labels, seals and other precision die-cut components. Navis is making the offer through Safe Label Group Pte Ltd,...

STX OSV Secures Contracts to Build Two Vessels for Farstad Shipping STX OSV Holdings Limited announced Friday that it has secured new contracts for the construction of two Multifunctional Deep Water Anchor Handling / Offshore Service vessels for Farstad Shipping. The total value of the contracts amounts to NOK1.2 billion (S$262.8 million). Deliveries are scheduled...

Nam Cheong Wins US$36.8 million Worth of Contracts for Three AHTS Vessels Malaysian-based shipbuilder Nam Cheong Limited announced Thursday that its subsidiaries have sold three 5,000 bhp anchor handling towing supply (AHTS) vessels to new customers from Singapore. The total value of the contracts amounted to US$36.8 million (S$46.3 million). The AHTS vessels are being...

Keppel Signs LOI to Build US$315-million Accommodation Semi for Floatel Keppel Corporation Limited’s subsidiary, Keppel FELS Limited, announced Wednesday that it has signed a Letter of Intent (LOI) with returning customer, Floatel International Ltd, to build a new generation accommodation semisubmersible worth US$315.0 million (S$395.8 million). The vessel is scheduled for delivery in July 2014....